IS
TAKING ITS TOLL IN THE U.S.
WITH THE MOST RECENT EXAMPLE
BEING SCORCHING TEMPERATURES
AND HEAT ADVISORIES NOW ON BOTH
SIDES OF
THE COUNTRY. BUT BEYOND THE
IMMEDIATE ISSUES EXTREME
WEATHER CAN ALSO HURT SECTORS
LIKE THE ECONOMY AND
SUPPLY CHAINS. JOINING US NOW
STEVE BENNETT CHAIRMAN OF THE
AMERICAN METEOROLOGICAL
SOCIETY'S COMMITTEE ON
FINANCIAL WEATHER AND CLIMATE
RISK AND CO-FOUNDER AND CHIEF
PRODUCT OFFICER OF THE D NEXT
GROUP STEVE WELCOME TO THE SHOW
TAKING A CLOSER LOOK AT THE
HEAT WAVES IN OUR COUNTRY
WATERS, SOME OF MAYBE THE LESS
OBVIOUS
CONSEQUENCES THAT PEOPLE MAY
NOT BE TALKING ABOUT OR SIMPLY
DON'T KNOW ABOUT.
>> YEAH IT'S A GOOD QUESTION,
YOU KNOW WE OFTEN HEAR ABOUT
YOU ACTS OF HEAT WHEN IT COMES
TO HUMAN. AND THE HEALTH
IMPLICATIONS BUT THE
ECONOMIC IMPACT. WE'RE ALSO
STREAMING THEY RANGE FROM LARGE
BUSINESSES TO SMALL
BUSINESSES SO IN THE SUPPLY
LARGE MANUFACTURER LEADER
BEVERAGE THEY WANT TO SEND A
$10,000 WE
IN REFRIGERATION SIMPLY TO MOVE
GOODS FROM ONE PLACE TO ANOTHER
THAT THEY WOULD NOT I HAVE IF
IT WAS AN EXTREMELY HOT
OUTSIDE. IF YOU'RE TAKING DOWN
SOME SAY YOUR LOCAL
CORNER ESTHER IN THE PACIFIC
NORTHWEST WHICH HAS BEEN SO HOT
IN THE LAST SEVERAL DAYS.
THE VERY FEW OF THE COMMERCIAL
SPACE IS ACTUALLY HAVE AIR
CONDITIONING IS WE'RE HEARING
EARLIER.
SO IF THE IF THE RESTAURANT IS
CAUGHT PEOPLE ARE GOING TO GO
OUT TO EAT AND THAT COULD HAVE
A SIGNIFICANT IMPACT ON VERY
SMALL BUSINESSES TO THE TUNE OF
YOU KNOW WHEN WE WE'VE SEEN IT
EXTREME COLD WEATHER. THE
SECOND RECENT UP TO 50%.
SO HOW ARE YOU SINGLE.
>> TAKE A LOOK AT A MAP OF
CURRENT HEAT ADVISORIES ACROSS
THE U.S.. WHAT ARE SOME OF THE
BIGGEST RISKS RISKS HERE STEVE
FOR THESE AREAS. THERE'S THAT
MAP ESPECIALLY
CAN SING IN MANY PEOPLE,
ESPECIALLY OUT IN THE WEST
COAST WE'RE TALKING SEATTLE AND
PORTLAND THAT PEOPLE ARE IN USE
TO THIS EXTREME HEAT.
>> YEAH, THAT'S EXACTLY RIGHT
SO A LOT OF THE RISKS IN THE
PACIFIC NORTHWEST. AND IN THE
NORTHERN ROCKIES, NORTHERN
PLAINS AND THE WESTERN CANON A
LOT OF THOSE
RISKS NOW AGAIN ON THE HEALTH
PEOPLE NEED TO BE IN
TEMPERATURE CONTROL
SPACES SO WITH THAT IS IF YOU
DON'T HAVE
AIR CONDITIONING YOU WANT TO
GET TO AIR CONDITION COMMERCIAL
SPACE DURING THE DAY.
YOU KNOW BEFORE COVID I USED TO
LIVE ON THE WEST COAST AND I
WAS IN SAN FRANCISCO, NOT
DATING JUST GO TO A MOVIE.
SO YOU KNOW THAT IN THAT AND
ALSO HAVE AN IMPACT ON
BUSINESSES SO SHOPPING MALLS
MOVIE THEATERS RESTAURANTS THAT
ARE CONDITION. THOSE ARE GREAT
PLACES TO STATE
THAT HE.
>> ESSENTIALLY THESE WEATHER
EVENTS ARE HAPPENING AS MANY
BUSINESSES ARE ALREADY TRYING
TO GRAPPLE WITH RECOVERING FROM
COVID SHUTDOWNS WHAT'S THE
CORRELATION BETWEEN EXTREME
WEATHER AND THE ECONOMY STATE.
>> YES AND THE AMERICAN
METEOROLOGICAL SOCIETY
PUBLISHED A STUDY INDICATING
THAT. AROUND A HALF A TRILLION
DOLLARS.
OF THE U.S. ECONOMY IS LINKED
TO CHANGES IN THE WEATHER.
AND YOU KNOW AS
I SAID BEFORE THE EFFECTS TO TO
BUSINESSES BOTH SMALL ALL AND
LARGE SO WE KNOW THAT WE KNOW
THAT BEER FACTORS FOR EXAMPLE
WILL SELL IT'S SIGNIFICANTLY
HIGHER AMOUNT OF BEVERAGES IN A
HOT SUMMER VERSUS A
COOL SUMMER. ANY SOPHISTICATED
COMPANIES, THE
STAKES ARE AFTER THE WEATHER
FORECAST IS THEY THINK ABOUT ME
FOR SPORTS STREETS IN 4.
FOR THE YEAR AND AND THINGS
ALONG THOSE LINES.
SO SOPHISTICATED BEVERAGES WILL
FACTOR IN THE FORECAST AS THEY
DO THAT IT RANGES ALL THE
WAY DOWN THE SMALL BUSINESSES
WE'VE BEEN TALKING ABOUT THE
NEIGHBORHOOD REST I
NEIGHBORHOOD OF PHILADELPHIA
SEVERAL YEARS AGO IN EXTREME
WHEN IT'S EXTREMELY OLD IN
PHILADELPHIA. BUT IT
DOESN'T SNOW. IT WILL CUT
TRAFFIC IN THIS PARTICULAR
RESTAURANT AS MUCH AS
50% WE.
>> 50% A WEEK I HAVE TO ASK
HERE. STEVE, HOW IS CLIMATE
CHANGE MAKING THE SITUATION
WORSE.
>> YES, THE CLIMATE CHANGE IS
AFFECTING
THE FREQUENCY. EXTREME WEATHER
WHAT IT REALLY DOING IS IT'S
DRIVING WEATHER THAT
WE DON'T EXPECT TO SEE IN IN
PARTS OF THE COUNTRY WHERE
PARTS OF THE WORLD. SO A GREAT
EXAMPLE OF THIS IS THE WAY THE
CITY WE REQUEST LIVE IN
BRITISH COLUMBIA. I WAS ABOUT
200 MILES NORTH OF C S
I EXPERIENCED A TEMPERATURE OF
218 DEGREES FAHRENHEIT THAT'S
THE WARMEST TEMPERATURE EVER OR
DID
IN CANADA. IT'S ALSO BY
COINCIDENCE THE WARMEST
TEMPERATURE EVER RECORDED IN
LOSS THEY
IT'S SO ESSENTIALLY WHAT WE'RE
SEEING IS A CLIMATE CHANGE IS
IT'S
BASICALLY MOVING AROUND WEATHER
PATTERNS THAT MIGHT BECOME AN
AND ONE IT WILL NOT
COMMENT ANOTHER THE
WORLD AND. THE CHANGING JET
STREAM PATTERN, CHANGING
WEATHER PATTERNS ARE SHIFTING